The Consumer Financial Protection Bureau ("CFPB") finalized updates to its rule on prepaid card accounts (the "Prepaid Rule"). As previously covered, the Prepaid Rule is intended to implement consumer protections on certain prepaid accounts subject to Regulation E and Regulation Z. The updates adjust requirements for resolving errors on unregistered accounts, create an exception from certain credit provisions for linkages between prepaid account and credit account issuers, and postpone the effective date of the Prepaid Rule to April 1, 2019.
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